Wall Street's in for a messy month.
President Trump's giant tax overhaul is scrambling the end-of-year earnings at the biggest U.S. banks, causing huge swings in profit for what would have otherwise been a muted quarter.
JPMorgan Chase, the largest bank in the USA, reported a big drop in profit on Friday for its fourth quarter - thanks largely to changes in the tax law and a major loan gone bust. Such charges could reduce the earnings the bank reports, although investors are likely to look to the core operating results since these hits will be one-time in nature.... His bank's fourth-quarter profit dropped by 40% because, unlike some other banks already enjoying the undeserved fruits of their lobbyists' labors, JPMorgan has to spend a little money to make a whole lot of money this year.
Royal Dutch Shell (LON:RDSA) Rating Reiterated by Barclays
It turned negative, as 22 investors sold LNCE shares while 58 reduced holdings. 63 funds opened positions while 146 raised stakes. Royal Dutch Shell Plc ( RDSB .L) has a 14-day RSI of 77.11, the 7-day is at 85.36, and the 3-day is resting at 84.76.
Earnings Per Share, after the charge, came in at an adjusted $1.76 vs. $1.69 expected by experts.
Even without the tax hit, it was a generally lackluster quarter for the bank, analysts said.
JP Morgan expects its fiscal year 2018 effective tax rate to be around 19%, given the TCJA´s provision to cut the top rate of United States corporate tax from 35% to 21%, creating a positive tailwind in the quarters ahead.
Man Fatally Shoots His Mother After Broken Video Game Headset Dispute
He blamed his mother for this, police said, and threatened to kill her and his father, identified by Fox 40 as Loren Nicolson. Officers found Nicholson's 68-year-old mother, Lydia Nicholson, inside with a head wound.
The bank also took a $143 million hit from a busted loan to Steinhoff International, a South African retailer that owns the U.S. company Mattress Firm.
Marianne Lake, the bank's CFO, called the hit the "transaction impact" of tax reform during a call with journalists on Friday morning.
Not every bank, of course, will benefit to the same extent from the tax overhaul. The bill essentially cut those liabilities down. Wells set aside $3.25 billion in legal costs relating to litigation and investigations - and doesn't see an end in sight.
Moradores de Anápolis poderão receber alerta de desastres naturais pelo celular
Ao responder indicando o CEP, o celular do usuário já está apto para receber alertas da Defesa Civil. A operação nos nove estados vai compreender mais de 125 milhões de telefones móveis.
Well Fargo shares dipped 46 cents, to $62.55.